Exam term
Functional obsolescence
Loss in value from a problem within the property itself, such as an awkward layout or an expensive feature buyers do not value.
Lessons that use this term
- The cost approach California
- Accrued depreciation: physical deterioration and functional and external obsolescence California
- The cost-depreciation approach Florida
- Highest and best use, site valuation, and the three approaches to value New York
- Characteristics of real property investments and investment property types New York
- The cost approach: reproduction and replacement cost and depreciation Texas